---
schema_version: "secwatch.filing_event.v1"
accession: "0001681622-23-000069"
form_type: "8-K"
ticker: "VREX"
cik: "0001681622"
company_name: "Varex Imaging Corp"
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T03:44:37.530358+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Varex Q4 FY2023 rev $227M; Medical down 10% YoY, Industrial up 27%; guides Q1 FY2024 rev $180-$200M

## Summary
- Q4 revenue $227M, down 2% YoY and 2% sequentially; full-year record revenue $893M.
- GAAP EPS $0.66 per diluted share; non-GAAP EPS $0.45 per diluted share.
- Medical segment revenue down 10% YoY (China anti-corruption headwind); Industrial up 27% YoY.
- Cash from operations $47M in Q4; cash & marketable securities $195M at year-end.
- Q1 FY2024 guidance: revenue $180-$200M, non-GAAP EPS $0.00-$0.20.

## SEC filing metadata
- accession: 0001681622-23-000069
- form_type: 8-K
- ticker: VREX
- cik: 0001681622
- company_name: Varex Imaging Corp
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000069/0001681622-23-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000069/vrex-20231114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001681622-23-000069
- JSON: https://secwatch.observer/filing/0001681622-23-000069.json
- Plain text: https://secwatch.observer/filing/0001681622-23-000069.txt

## Key facts
- Earnings Releases
  Varex Imaging Corp reported for the twelve months ended September 29, 2023 (FY23) results: revenue $893 million, EPS $1.08 per diluted share (GAAP); $1.27 per diluted share (Non-GAAP).
  - Period: for the twelve months ended September 29, 2023 (FY23)
  - Revenue: $893 million
  - EPS: $1.08 per diluted share (GAAP); $1.27 per diluted share (Non-GAAP)
  - Result: reported results
  source text: FY23 Summary • Record revenues of $893 million • GAAP gross margin 32% | Non-GAAP gross margin* 33% • GAAP operating expense $213 million | Non-GAAP operating expense* $199 million • GAAP operating margin 9% | Non-GAAP operating margin* 11% • GAAP net income $1.08 per diluted share | Non-GAAP net income* $1.27 per diluted share • Cash flow from operations $108 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000069/0001681622-23-000069-index.htm
- Earnings Releases
  Varex Imaging Corp reported for the first quarter of fiscal year 2024 results: revenue $180 million to $200 million, EPS $0.00 to $0.20 per diluted share (Non-GAAP). Guidance initiated.
  - Period: for the first quarter of fiscal year 2024
  - Revenue: $180 million to $200 million
  - EPS: $0.00 to $0.20 per diluted share (Non-GAAP)
  - Guidance: initiated
  - Result: guidance update
  source text: Outlook The following guidance is provided for the first quarter of fiscal year 2024: • Revenues are expected to be between $180 million and $200 million • Non-GAAP net income per diluted share is expected to be between $0.00 and $0.20
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000069/0001681622-23-000069-index.htm
- Earnings Releases
  Varex Imaging Corp reported for the three months ended September 29, 2023 (Q4 FY23) results: revenue $227 million, EPS $0.66 per diluted share (GAAP); $0.45 per diluted share (Non-GAAP).
  - Period: for the three months ended September 29, 2023 (Q4 FY23)
  - Revenue: $227 million
  - EPS: $0.66 per diluted share (GAAP); $0.45 per diluted share (Non-GAAP)
  - Result: reported results
  source text: Q4 FY23 Summary • Revenues of $227 million • GAAP gross margin 34% | Non-GAAP gross margin* 36% • GAAP operating expense $54 million | Non-GAAP operating expense* $51 million • GAAP operating margin 11% | Non-GAAP operating margin* 13% • GAAP net income $0.66 per diluted share | Non-GAAP net income* $0.45 per diluted share • Cash flow from operations $47 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1681622/000168162223000069/0001681622-23-000069-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.